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Parking Agreement SL 101, LLC -Page 2 of3- March 9, 2007 $80 per reserved space. An annual increase of up to the change in Consumer Price Index is allowed, but the monthly parking fee must not exceed that charged to other users of the garage. As spaces become available in the garage, SL 101, LLC will be required to increase the number of leased spaces up to the parking requirements of the San Leandro Zoning Code (159 parking spaces). The Parking Agreement also includes a provision that the City will not be required to provide the parking spaces should the City elect to renovate or expand the garage. Furthermore, it states that upon completion of the garage renovation or expansion project, SL 101, LLC will be required to resume the lease and the City will be able to establish a new monthly parking fee. The new monthly parking fee will then be subject to the same limit in annual increases as well as the requirement that the rate will not exceed that charged to other users of the garage. SL 101, LLC will be renovating the office and retail building, including exterior improvements and landscaping, and repositioning the building to better fit San Leandro's current market. The hope is that this building with current vacancies will be fully tenanted, bringing additional people to the downtown area. In order to meet the parking needs, staff recommends Council adoption of a resolution authorizing the City Manager to execute the Parking Agreement for 101 Callan Avenue with SL 101, LLC. Current City Council Policy - Not Applicable Previous City Council Actions - None City Council Committee Review and Action - The Business and Housing Development Committee was advised of the proposed Parking Agreement at their February 8, 2007 meeting. Applicable General Plan Policy - Not Required Permits and/or Variances Granted - Not Required Environmental Review - Not Required Code Compliance Review - Not Required Board/Commission Findines - The Board of Zoning Adjustments approved the Zoning Permit required for the conversion of the office building at 101 Callan Avenue to non-residential condominiums and the necessary parking exception at their February 15, 2007 meeting. Summary of Public Outreach Efforts - The Board of Zoning Adjustments (BZA) meeting received normal noticing and notification of the BZA meeting was also made to all property owners and businesses within a 300-foot radius of the site, including the tenants of 101 Callan. No noticing was required regarding the proposed Parking Agreement under consideration. Fiscal Impact - Not Applicable Budeet Authority - Not Applicable